Manchester United have confirmed they are in negotiations with Sir Alex Ferguson for him to carry on as manager.
In a statement to the Stock Exchange United have revealed that Ferugson, who was due to retire at the end of the season, has asked them if he can carry on.
Both parties are now in talks which could see Ferguson remain in charge at Old Trafford for another two or three years.
The statement reads: "As a result of today's press speculation, the board of Manchester Untied plc confirms that it was recently approached by Sir Alex Ferguson on Sir Alex remaining as manager of the club beyond this season.
"The board has entered into discussions with Sir Alex and his advisors on a new contract."
Ferguson's decision to carry on solves United's problem of trying to replace him this summer and the club had run into trouble trying to find a successor.
Leading targets, England coach Sven-Goran Eriksson, Bayern Munich's Ottmar Hitzfeld and Celtic's Martin O'Neill had already ruled themselves out of the running, while only today Roma confirmed that their coach Fabio Capello would honour his contract which does not expire until the summer of 2003.
PA